Fox Corp (NASDAQ:FOX) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 3,480,000 shares, a growth of 30.8% from the August 30th total of 2,660,000 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 1,370,000 shares, the days-to-cover ratio is presently 2.5 days.
In other FOX news, Chairman Keith Rupert Murdoch acquired 500,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average price of $32.06 per share, for a total transaction of $16,030,000.00. Following the completion of the purchase, the chairman now directly owns 805,714 shares of the company’s stock, valued at $25,831,190.84. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roland A. Hernandez acquired 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $34.91 per share, for a total transaction of $104,730.00. The disclosure for this purchase can be found here. 17.47% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in FOX. Cacti Asset Management LLC acquired a new stake in FOX during the third quarter valued at $31,092,000. State of Alaska Department of Revenue acquired a new stake in FOX during the third quarter valued at $910,000. Moon Capital Management LLC acquired a new stake in FOX during the third quarter valued at $727,000. F&V Capital Management LLC acquired a new stake in FOX during the third quarter valued at $2,650,000. Finally, Gulf International Bank UK Ltd acquired a new stake in FOX during the third quarter valued at $1,046,000. Institutional investors own 23.58% of the company’s stock.
Shares of NASDAQ:FOX traded up $0.73 during midday trading on Friday, reaching $31.16. The company’s stock had a trading volume of 1,384,145 shares, compared to its average volume of 1,046,799. FOX has a twelve month low of $29.61 and a twelve month high of $41.73. The stock has a fifty day moving average of $32.13 and a 200 day moving average of $35.20. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68.
FOX (NASDAQ:FOX) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter. The business had revenue of $2.51 billion during the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 4th were paid a $0.23 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from FOX’s previous quarterly dividend of $0.18.
A number of analysts have recently weighed in on FOX shares. Zacks Investment Research lowered shares of FOX from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Goldman Sachs Group started coverage on shares of FOX in a research note on Wednesday, June 26th. They issued a “buy” rating and a $46.00 price objective on the stock. Finally, BidaskClub lowered shares of FOX from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.67.
FOX Company Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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